Coyle White Devine UAE debt

[Patsssy]

Hi

 

After returning back to the UK a few years ago, we carried on paying the balance on our credit card. We never missed any and fully intended on clearing it off.

 

Having asked for the balance, we realised that not only it had not gone down, in fact it had gone up after months of repayment. Apparently the bank had decided to change the interest rates without telling us.

 

We tried contacting the bank and were told that we had to pay a ridiculous amount. Our initial debt was around 5k and contacting the bank to get a settlement figure, thinking that after all the payments the balance would have gone down, we were told that the change in the interest rate had gone up from less than 1% a month to about 22%.

 

At this point, feeling angry as we couldn t resolve this and no notice had been given, I stopped the payments.

 

Now six years later, I have received a letter from Coyle White Devine solicitors based in the UK with a letter of claim and a cut and paste point regarding an exoress term within the contract within the NBD bank alledgedly saying I had signed a contract stating that the bank could pursue legal proceedings due to a non exclusive jurisdiction clause within the contract. They had satisfied themselves of my indebtedness, the figure quoted in the letter had skyrocketed to £70000!

 

Attached to the letter of claim was "without prejudice save as to costs" and that the bank is willing to negotiate to the interest level and settle close to the point of default.

 

21 days have been given.

 

No contract has been sent of the credit agreement, no original terms of business signed has been sent, no proof of assignment has been given as of yet apart from claiming to be acting on behalf of the bank. Strong impression is that the solicitor is acting like a bonafide debt collector under the umbrella of being a solicitor, stating they are securing 30-40 judgments per month for such debts.

 

My understanding is CWD does not mention judgment made in Dubai, and I understand the limitation period is 15 years in Dubai. No judgemnet in Dubai means i think that this needs to be dealt with under English covil law, is the alledged debt statute barred as its over six years?

 

Finally, there has been several court rulings in Dubai on a particular case as of last year rejecting local banks seeking high interest on CC debts and stating they have a duty to inform debtors of changes in interest rates and ruling that the debtor should only pay back the principal sum owed at the time of default.

 

Ps doesn't interest go against islamic shariat law?

 

I welcome your sensible constructive comments on this please.

 

Thanks

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?429696-Coyle-White-Devine-going-to-Court-over-UAE-Bank-Loan-debt

[unclebulgaria67]

As suggested in the other thread dx linked to, you really need CWD to provide copies of all documents from NBD and evidence that CWD have been instructed by NBD to act on their behalf. Does not need to be a long letter. Just ask them to provide a full copy of any agreement that exists, a copy of the original terms and conditions, a copy of any revised terms/conditions applied, a copy of all statements of account and a letter from NBD confirming that they have instructed CWD to act.

 

In regard to the 6 years of not making payments, this might become important, so hopefully statements of account will confirm when you last made a payment. CWD do issue court claims for NBD, but do seem more reluctant to do so, if the debtor looks like they will defend any claim. Hence why it is important to send a letter requesting information.

[Landa]

Just to warn you, if you're going through Dubai (or Abu Dhabi) and it's within 15 years of the last acknowledgment of the debt you could find yourself arrested (this isn't always the case but it does happen). Out of all the banks, Emirates NBD go after defaulters the most and are the most persistent judging from one of my friend's recent experience upon return to Dubai.